The Federal Board of Revenue (FBR) has issued a list of 114 unregistered retailers (Tier-1), who are required to be integrated with the FBR’s Point of Sale (POS) system.
In July, FBR issued a list of 101 big retailers (Tier-1), which were required to be integrated with the FBR’s POS system. They were denied 60 percent input tax credit due to non-integration.
The number of big retailers (Tier-1) which are required to be integrated with the POS system now stands at 113. The board has decided to raise sales tax demand against these big retailers (Tier-1), who do not integrate with the FBR’s POS system by the deadline of August 10, 2022.
FBR has stated that the input tax claim of all aforementioned Tier-1 retailers would be disallowed upon filing the sales tax return for the month of August 2022
The FBR’s notification also stated that in order to operationalize this provision of law, a system-based approach has been adopted
The procedure of exclusion from the list of identified Tier-I shall apply as laid down in STGO 17 of 2022 dated May 13, 2022, FBR added.